Provident Fund interest rate hiked to 8.8% for 2015-16 financial year Tuesday February 16,2016

 

Retirement fund body Employees' Provident Fund Organisation (EPFO) has increased the PF interest rate to 8.8 % for 2015-16 financial year

The existing interest is 8.75 % and it was increased by 0.05 %.

 EPFO Finance Audit and Investment committee (FAIC) had early recommended 8.95 % interest on PF deposits for the current fiscal. But it was brought down to 8.8 %.

As per rule, fixing the interest rate solely depends on EPFO's apex decision making body - Central Board of Trustees (CBT) because it provides rate of return from its own income without any assistance from the government.

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